Tech Talk for Friday April 16th 2021

Utilities SPDRs (XLU) moved above $66.86 extending an intermediate uptrend.

Palladium ETN (PALL) moved above $257.91 extending an intermediate uptrend.

Pre-opening Comments for Friday April 16th

U.S. equity index futures were higher this morning. S&P 500 futures were up 8 points in pre-opening trade.

Index futures were virtually unchanged following release of the March U.S. Housing Start report at 8:30 AM EDT. Consensus was 1.600 million units from upwardly revised 1.720 million units in February. Actual was 1.720 million units.

Alcoa added $1.16 to $34.00 after reporting higher than consensus first quarter earnings

Walt Disney added $0.17 to $186.10 after Truist raised its target price from $195 to $205.

Bank of New York Mellon gained $0.14 to $48.15 after reporting higher than consensus first quarter earnings.

Pfizer added $0.13 to $37.73 after the company recommended a third injection of its COVID 19 vaccine one year after an initial injection.

EquityClock's Daily Comment

Following is a link:
http://www.equityclock.com/2021/04/15/stock-market-outlook-for-april-16-2021/

Technical Notes for Thursday April 15th

7-10 year Treasury bond iShares (IEF) moved above $114.17 completing a double bottom pattern.

Australia iShares (EWA) moved above $25.89 to an all-time high extending an intermediate uptrend.

Medical Devices iShares (IHI) moved above $351.59 to an all-time high extending an intermediate uptrend.

Vertex (VRTX), a NASDAQ 100 stock moved above $220.63 setting an intermediate uptrend.

Duke Energy (DUK), an S&P 100 stock moved above $99.38 to an all-time high extending an intermediate uptrend.

Southern Companies (SO), an S&P 100 stock moved above $64.25 extending an intermediate uptrend.

Junior Gold Miners ETF (GDXJ) moved above US$49.25 completing a double bottom pattern.

Agnico-Eagle (AEM), a TSX 60 stock moved above US$61.61 completing a double bottom pattern.

Regeneron (REGN), a NASDAQ 100 stock moved above $497.70 completing a double bottom pattern.

Base metals stocks continue to record positive technical action. Lundin Mining (LUN) moved above $15.35 to an all-time high extending an intermediate uptrend.

Trader's Corner

Equity Indices and Related ETFs

Daily Seasonal/Technical Equity Trends for April 15th 2021

Green: Increase from previous day

Red: Decrease from previous day

Commodities

Daily Seasonal/Technical Commodities Trends for April 15th 2021

Green: Increase from previous day

Red: Decrease from previous day

Sectors

Daily Seasonal/Technical Sector Trends for April 15th 2021

Green: Increase from previous day

Red: Decrease from previous day

All seasonality ratings are based on performance relative to the S&P 500 Index

Market Buzz

Greg Schnell discusses "Chipping away at Semi-conductors". Following is a link:

https://www.youtube.com/watch?v=nx61l8KYul8

S&P 500 Momentum Barometer

The intermediate term Barometer added 0.79 to 92.57 yesterday. It remains Extremely Overbought.

The long term Barometer added 0.79 to 96.39 yesterday. It remains Extremely Overbought.

TSX Momentum Barometer

The intermediate term Barometer added 5.31 to 82.27 yesterday. It changed back from Overbought to Extremely Overbought on a return above 80.00.

The long term Barometer added 1.87 to 81.77 yesterday. It changed back from Overbought to Extremely Overbought on a return above 80.00.

Disclaimer: Seasonality and technical ratings offered in this report and at

www.equityclock.com are for information only. They should not be considered as advice to purchase or to sell mentioned securities. Data offered in this report is believed to be accurate, but is not guaranteed